David Cowell, the founder and chairman of Leeds-based boutique investment managers Myddleton Croft, has announced his retirement after 50 years in wealth management. He will continue as non-executive chairman.
Cowell founded Myddleton Croft in 2006 and since then the business has seen tremendous growth, achieving a turnover of GBP1 million in 2016 as well as reaching its target milestone of GBP100 million of Funds Under Management last November.
“To have enjoyed 50 years in business is quite an achievement and I am very proud of the business the team and I have built up,” says Cowell. “The firm has a strong reputation based on the solid performance of our discretionary portfolios and we have successfully established trusted relationships with both advisers and individuals who use our investment services.
“Working alongside managing director Julie Jones and investment director Patrick Toes, we have made great progress over the last few years, growing to a nine-strong team; moving to larger offices, and investing in new management systems. With such a strong management team at the helm, I am confident that Myddleton Croft will continue to flourish, and I would like to thank everyone who has played a part in our success to date.
“Having started working in financial services in the 1960s, I have seen huge changes in the sector with the growing regulatory requirements which we are now facing, such as MiFID II, being among the most challenging. However, one thing I have learnt is that a solid, well-run business is able to weather changing market conditions, investing and adapting to ensure that it maintains high standards of service for its clients.”